The first target area of 0.9 has no rebound; if it breaks here, it will break the upward channel. The only buying positions can be at the 0.73 and 0.58 areas.

$COW is currently moving within an ascending channel on the 4H small timeframe. The strategy should be to position for low-level buying. Below are the analyses of the buying strategies at three points.
1. The 0.9 area is the crossover point where the ascending channel and the W neckline breakout level convert support and resistance.
2. The 0.9 area corresponds to the same level of decline as before.
3. The 0.734 area is the order block position, where support and resistance switch.
4. The 0.584 area is the daily level support and resistance switch, the breakout point of the range, and the starting point for an uptrend.

As long as the 0.9 area is not effectively broken down, and the ascending channel is not effectively breached, one should not go short against the trend.